Chesapeake expanding 640 acre tracts.
I am having a hard time understanding how chesapeake expanding units from 640 acres to 800 plus acres would help me. We were originally with Anadarko lease which specified 640 acre units. Chesapeake bought out lease and are asking to modify to 800+ acres for $10. Chesapeake claims royalties would be greater. Thanks.
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Comment by Michael Antrim on April 21, 2010 at 5:57pm
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They are trying to lock up big chunks, and drill one well with 6 horz permits and not drill the other 5. If they are asking you to expand drilling unit, you can modify your old lease. Why not. They are asking you to modify the agreement. It is give and take. i would love to talk to you, i'm in the same boat. there is alot of info i found out on this situation. its been a head ache but well worth it.
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Comment by Robin Fehrenbach Scala on April 4, 2010 at 4:46pm
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I agree with you, Gary.
Chesapeake is changing units to enlarge them so they won't have to drill as many wells to hold leases by production.
It is unlikely that your royalties would be greater. They are doing this for their own benefit, not yours.
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